Despite the nastiness of the economic picture, the ECB is widely expected to take no action at its meeting tomorrow. The euro area is walking, eyes wide open, into depression. Led by its periphery, which is already there.

Most everyone seems to have convinced themselves that this sort of thing isn’t so bad, so long as a Lehman-like financial collapse is avoided. It isn’t. Nothing good will come of a euro-zone depression.

Real World Economics Review

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Real World Economics Review

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————— Jorge Buzaglo ————

————— Asad Zaman ———–

—————– C. T. Kurien ———

Wealth and Illfare: An Expedition through Real Life Economics

————— Robert Locke ————

Appreciating Mental Capital: What and Who Economists Should Also Study

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